502 E Magnolia Blvd, Burbank, CA 91501
2 beds · 3 baths · 1,281 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Nestled in the heart of Burbank, this beautifully designed tri-level townhome offers two bedrooms and three bathrooms. A charming 12-unit Chalet-style community gives you an alpine feel and still just walking distance to downtown. The spacious layout features an inviting living area that flows seamlessly into the dining space, perfect for relaxing or entertaining. This fully remodeled kitchen is the heart of the home, designed for both style and function. Outfitted with top-of-the-line stainless steel appliances, custom cabinetry with soft-close drawers, and sleek quartz countertops, every detail has been thoughtfully curated. Upstairs, the primary suite boasts an enormous closet space and an en-suite bathroom, while the second bedroom provides comfort and versatility. The lower level includes a dedicated mudroom and laundry area, along with additional storage and direct access to a personal attached 2-car garage! Enjoy the convenience of not one but two private balconies, all within a serene, well-maintained complex just moments from shopping, dining, and entertainment.
Source: CRMLS #BB25045434
Source: CRMLS #BB25045434
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 620, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.